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This video tutorial discusses the importance of having a clear sales and service agreement in place when closing a deal with clients. The contract includes specific legal terms that need to be understood and agreed upon before finalizing the deal. The agreement is presented as a crucial step in the sales process, following the presentation of pricing, proposals, examples, and references. The document provided in the video is the exact contract used to close business deals and is dated accordingly. The creator mentions that they spent around a thousand dollars to have a lawyer draft the agreement, emphasizing its value in protecting both parties involved in the transaction.